Home / Knowledge / News / Apparel/Garments / AnnTaylor expanding outlet store biz; creates 1000 jobs
AnnTaylor expanding outlet store biz; creates 1000 jobs
30
Oct '10
AnnTaylor Stores Corporation announced that it expects to significantly expand its factory outlet footprint in 2011 through the opening of approximately 35 LOFT Outlet Stores and 5 Ann Taylor Factory Stores. To accelerate its expansion in this channel, the Company is leasing premium store locations at leading factory outlet centers across the United States formerly occupied by Liz Claiborne Inc.

Kay Krill, Ann Taylor's President and Chief Executive Officer, stated, "As we have previously noted, we had identified our highly productive factory outlet channel as an area for future growth, particularly for our LOFT brand. This extraordinary opportunity to open premium store locations significantly and efficiently accelerates our planned expansion and represents meaningful growth for our very successful LOFT Outlet business. Finally, we are delighted that this opportunity is expected to result in the creation of approximately 1,000 new jobs across the country."

The Company plans to open approximately 40 new factory outlet stores during the second quarter of fiscal 2011, which are expected to generate incremental fiscal 2011 revenue of approximately $75 million and to be accretive to its fiscal 2011 earnings per share. Capital expenditures associated with this strategic growth opportunity are expected to be approximately $25 million in fiscal 2011. There are no direct costs associated with the transfer of these locations from Liz Claiborne Inc. to Ann Taylor Stores Corporation.

As of July 31, 2010, the Company operated 110 stores in the factory outlet channel, of which 92 were Ann Taylor Factory Stores and 18 were LOFT Outlet Stores.

AnnTaylor Stores Corporation

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X